Copper price confirmed its commitment to the corrective bearish trend by posting new negative closes below the $6.1000 barrier. The price renews the attempt of pressing on the moving average 55 by its fluctuating around $5.9500, in an attempt to find a chance to resume its decline and target the next support level at $5.7700.

Note that Stochastic continues to fluctuate within oversold levels will increase the negative pressures on the current trading, to reinforce the chances of reaching the previously suggested next target, while the attempt of renewing the bullish attempts requires surpassing $6.3000 level and holding above it.

The expected trading range for today is between $5.7700 and $6.0700

Trend forecast: Bearish

Ethereum (ETHUSD) declined during its latest intraday trading, breaking the key support at $1,550, which was an expected target in our last analysis, amid the dominance of the main bearish trend on the short-term basis, with its trading alongside supportive trend line, with the continuation of the negative pressure due to its trading below EMA50, and the emergence of negative signals from the relative strength indicators.

Brent crude oil declined during recent intraday trading amid the continuation fo the negative pressure due to its trading below EMA50, which reduces the chances of a recovery in the near period, amid the dominance of the main bearish trend on the short-term basis, besides the beginning of forming negative divergence on the relative strength indicators, after reaching overbought levels, exaggeratedly compared to the price move, with the emergence of negative overlapping signals from them, intensifying the surrounding negative pressure.

The USDCHF pair rose during its latest intraday trading sessions, amid the dominance of the main bullish trend on the short-term basis, with the continuation of the positive pressure as the pair trades above the EMA50, which reinforces the chances of extending these gains in the near term, supported by the early formation of a bullish divergence on the relative strength indicators after they reached deeply oversold levels, excessively to the pair’s price action, while the indicators started to generate positive signals.